Nova Ambiente assists Sirius on the acquisition of a Business Park in Hamburg

Sirius Real Estate has finalised the purchase of an industrial park in Hamburg. Located in Rothenburgsort, near the Port of Hamburg — the largest contiguous industrial area in northern Germany – and a short distance from Hamburg city centre. The park has a gross rental area of 29,448 m² and currently generates annual rental income of €2.15 million, with 89% occupation. Having recently undergone extensive refurbishment, the property is home to a number of leading companies from various industries. The two main tenants contribute over 20% to the annual rental income and have an average remaining lease term (WALE) of 3.1 years. There is potential for diverse value creation through leasing vacant space and future developments. Several smaller tenants on short-term leases offer upside potential compared to current rental prices and there is a potential development opportunity with a large existing tenant.

Sirius Real Estate was supported in Environmental matters by Ambiente Deutschland GmbH

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